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Shokere vs. RFC Settlement

WRRSV is pleased to announce a $2,460,845 class action settlement in Shokere vs. Residential Funding Company., et al., Case No. 1116-CV30478. Residential Funding Company has agreed to pay $2,460,845 to settle the claims of 166 class members who obtained 110 second mortgage loans that were purchased by, assigned to, serviced by or master serviced by Residential Funding Company. Class Members who obtained a loan from First Plus Bank and who do not exclude themselves from the settlement will receive a payment ranging from an estimated $5,613 to $89,522 ($32,834 on average). Class Members who obtained a loan that was acquired by UBS Real Estate Securities, Inc. and who do not exclude themselves from the settlement will receive a payment ranging from $250 to an estimated $23,457 ($2,229 on average).

Class Members can see what we currently estimate the amount of their settlement payment to be by accessing the Proposed Distribution Schedule. To access the Proposed Distribution Schedule for your settlement benefit, click here.

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